Business
Entrada Therapeutics Reports Fourth Quarter and Full Year 2022 Financial Results
- Established a transformative collaboration with Vertex to discover and develop intracellular Endosomal Escape Vehicle-therapeutics for myotonic dystrophy
About this update from Entrada Therapeutics, Inc.
[{"type":"text","content":"- Established a transformative collaboration with Vertex to discover and develop intracellular Endosomal Escape Vehicle-therapeutics for myotonic dystrophy type 1 - - Actively working to resolve the clinical hold on its IND application for ENTR-601-44 - - Selected ENTR-601-45, expanding the Company’s commitment to include a potential therapy for people living with Duchenne who are amenable to exon 45 skipping - - Cash runway extended into 2H 2025 following the closing of the collaboration with Vertex - BOSTON, March 06, 2023 (GLOBE NEWSWIRE) -- Entrada Therapeutics, Inc. (Nasdaq: TRDA), a biopharmaceutical company aiming to transform the lives of patients by establishing intracellular Endosomal Escape Vehicle (EEV™) therapeutics as a new class of medicines, today reported financial results for the fourth quarter and full year ending December 31, 2022 and highlighted recent business updates. “We made significant progress executing on our strategic initiatives in 2022, highlighted by the expansion of our pipeline, establishing a global, transformative collaboration with Vertex focused on discovering and developing intracellular EEV-therapeutics for myotonic dystrophy type 1 and strengthening our balance sheet,” said Dipal Doshi, President and Chief Executive Officer of Entrada Therapeutics. “We are working diligently to address FDA’s concerns regarding our IND for ENTR-601-44 and remain very confident in achieving our goal of initiating a healthy volunteer trial in 2023. Fundamentally, we believe we are well-positioned to advance our pipeline in the year ahead to create value for patients and shareholders.” Recent Corporate Highlights In December 2022, the U.S. Food and Drug Administration (FDA) placed the Investigational New Drug (IND) application on hold for ENTR-601-44 for the potential treatment of people living with Duchenne who are amenable to exon 44 skipping, requesting that the Company gather and submit additional information. The Company is actively working to resolve the clinical hold as quickly as possible. Given the extraordinary unmet medical need, Entrada is simultaneously pursuing global opportunities with the continued goal of initiating a healthy volunteer trial in 2023. In December 2022, the U.S. FDA Office of Orphan Products Development (OOPD) granted orphan drug designation for ENTR-601-44 for the treatment of...